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Entries Tagged as 'cramdown'

Credit Union Industry Worried about New “Cramdown” Legislation

March 3rd, 2009 · 5 Comments · Bankruptcy

One of the economic turn around proposals being kicked around includes legislation allowing bankruptcy judges who preside over Chapter 13 bankruptcies to reduce the principal amount of mortgages. This is being dubbed the “cramdown” of the mortgage principal into a smaller amount. A friend of mine received an electronic pamphlet from her credit union extolling [...]

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